Adobe Systems Incorporated (NASDAQ:ADBE) had its target price raised by stock analysts at Pivotal Research from $104.00 to $109.00 in a research note issued on Friday. The firm presently has a “hold” rating on the software company’s stock. Pivotal Research’s target price would suggest a potential downside of 13.70% from the stock’s previous close.

Several other research analysts also recently issued reports on ADBE. Canaccord Genuity reiterated a “buy” rating and set a $145.00 price target (up previously from $125.00) on shares of Adobe Systems in a research report on Tuesday, March 14th. Citigroup Inc upped their price target on shares of Adobe Systems to $141.00 and gave the stock a “buy” rating in a research report on Friday. Cowen and Company reiterated a “buy” rating and set a $120.00 price target on shares of Adobe Systems in a research report on Tuesday, December 13th. Royal Bank of Canada upped their price target on shares of Adobe Systems from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Adobe Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $125.90.

Analyst Recommendations for Adobe Systems (NASDAQ:ADBE)

Adobe Systems (NASDAQ:ADBE) opened at 126.31 on Friday. The stock has a market capitalization of $62.41 billion, a P/E ratio of 54.44 and a beta of 1.06. The stock has a 50 day moving average of $118.41 and a 200 day moving average of $109.05. Adobe Systems has a 52-week low of $90.35 and a 52-week high of $130.30.

Adobe Systems (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 16th. The software company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Adobe Systems had a net margin of 19.96% and a return on equity of 17.23%. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts forecast that Adobe Systems will post $3.94 EPS for the current year.

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In other Adobe Systems news, VP Richard Rowley sold 1,348 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $108.13, for a total transaction of $145,759.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Charles M. Geschke sold 48,100 shares of the firm’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $104.03, for a total value of $5,003,843.00. The disclosure for this sale can be found here. Insiders have sold a total of 396,890 shares of company stock valued at $44,505,838 over the last ninety days. Company insiders own 0.43% of the company’s stock.

A number of large investors have recently made changes to their positions in ADBE. Smithfield Trust Co. increased its stake in shares of Adobe Systems by 465.6% in the third quarter. Smithfield Trust Co. now owns 1,018 shares of the software company’s stock valued at $110,000 after buying an additional 838 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of Adobe Systems by 11.1% in the third quarter. TCI Wealth Advisors Inc. now owns 1,104 shares of the software company’s stock valued at $120,000 after buying an additional 110 shares in the last quarter. Clean Yield Group increased its stake in shares of Adobe Systems by 32.9% in the third quarter. Clean Yield Group now owns 1,130 shares of the software company’s stock valued at $123,000 after buying an additional 280 shares in the last quarter. Kernodle & Katon Asset Management Group LLC increased its stake in shares of Adobe Systems by 69.8% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 1,204 shares of the software company’s stock valued at $131,000 after buying an additional 495 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Adobe Systems during the fourth quarter valued at about $148,000. 87.25% of the stock is owned by institutional investors and hedge funds.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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